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Investors Reject Obama Mortgage Bailout Proposal

Michael1364 Wrote: Dec 28, 2012 11:39 AM
The rich probably won't leave, although I am sure a small number may, more likely, they will just shelter their money You think Obozo's buddies won't find a way out of higher taxes? Or just not pay them like that bozo Geithner?
A long-rumored plan for the Obama Administration to facilitate federal purchases of underwater mortgages has begun taking shape, and a familiar story has emerged: investors and markets aren't fans of the idea.

The Wall Street Journal originally reported on the plan to expand mortgage relief even in the wake of what looks to be positive economic trends in the housing market. The mortgage relief program expansion would allow borrowers who aren't covered by Fannie Mae or Freddie Mac to participate.

CNBC reports:

Under the proposal eligible borrowers must be severely underwater, with a...